'A lot of people -- whether farmers, students or businessmen -- think when they take a loan, that everything will go well and they will pay back.' 'Sometimes, things don't go well.'
The Finance Ministry has called a meeting of heads of public sector banks to clear stalled projects.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Over the weekend, many companies stepped in to ease the bottleneck in supply and transportation of oxygen, as demand ran high with the surge in cases.
India's steel imports from China, the world's biggest producer of the alloy, doubled in April-September from a year ago though the country has enough capacity to meet its demand.
With the Supreme Court (SC) cancelling captive coal block allocations, Jindal Steel & Power Limited will be the worst-affected company.
De-allocation could raise import bill by $3 billion, add to coal shortage.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
The trading firm is under pressure from lenders to raise funds.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
Ajit Mishra answers reader queries on the stock market.
With the threat of a third Covid-19 wave looming large, companies are scrambling to protect employees and keep operations safe--from a no-jab-no-entry-at-workplace policy to ramping up vaccination, it's an all-out effort to prevent the scale of devastation seen in the first two waves. At least two top steel companies--Tata Steel and ArcelorMittal Nippon Steel India (AM/NS India)--are pushing for vaccination certificates for entry into work premises. AM/NS India, a joint venture between world's leading steelmaker, ArcelorMittal, and Japan's Nippon Steel, is set to make vaccination the certificate a requirement from July 1.
Lines up investments in steel, power sectors to profit from booming demand.
The judiciary has sent a strong message against crony capitalism.
Forest land measuring 1838.79 hectares in Odisha has been diverted for 15 industrial projects in the state between 2004 and 2013.
Markets this week would be guided by the ongoing quarterly earnings, macroeconomic data announcement and global trends, analysts said. The government will release industrial production data for June and inflation data for July this week. The RBI has revised its retail inflation forecast to 5.7 per cent, up from the earlier 5.1 per cent due to price pressure on account of supply constraints and high crude oil prices.
The more crucial point is that India Inc can't argue against transparency.
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
The unholy nexus between business and politics has taken a whole new form, says Bhupesh Bhandari.
Venkataraman Krishnamurthy, who is considered as the turnaround man of several Indian corporate houses like BHEL, Maruti Udyog, SAIL and Gail (India), passed away on Sunday at the age of 97. Krishnamurthy is considered as "the father of public sector undertakings in India" by many in India Inc. Born in the temple town of Tamil Nadu's Karuveli, he started his career as an airfield technician during the Second World War.
Former minister of state for coal Dasari Narayan Rao, an accused in Jharkhand's Amarkonda Murgadangal coal block allocation scam case, on Tuesday said that decisions to allocate coal blocks were taken by then Prime Minister Manmohan Singh, who was also heading the coal ministry at that time.
Naveen Jindal, Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL), has topped the executive pay charts for listed companies in India.
India Inc on Wednesday welcomed Tata Steel's acquisition of Anglo-Dutch steel maker Corus while expressing concern that the deal might re-rate the entire steel industry, making steel companies over-valued.
Court says no evidence of cartel in low bids for coal blocks.
The Central Bureau of Investigation on Monday filed its first charge-sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.
Santosh Kamath, partner (infrastructure and government services), KPMG in India, expects an extension of a tax holiday for the sector.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
The states will get over Rs l lakh crore.
Naveen Jindal, Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL), has topped the executive pay charts for listed companies in India.
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The award of more than 200 coal blocks to steel, cement and power companies has been at the centre of the so-called "Coalgate" scandal.
Housing sector to benefit from Budget.
It is hoped that the decision of India's apex court will send a signal to politicians and their cronies from the world of business that the rule of the law does eventually prevail, says Paranjoy Guha Thakurta.
Meeting in the midst of a raging controversy, an inter-ministerial group on coal blocks on Monday skirted a decision on cancelling allotments of 58 mines, but firmed up the guidelines for forfeiting of bank guarantees for failure to develop them.
Factories are shutting down owing to a shortage of labour and raw materials, and a lack of logistical support amid the ongoing nationwide lockdown against the coronavirus pandemic.
Though the ruling Left Front in West Bengal recorded its worst performance in the recent Lok Sabha polls, industrialists appear to be unperturbed by the changing political wind in the state and believe industrialisation will continue.
Ministers are forbidden to have any connections with businesses that are related to the work they conduct for the government.
CAG audit is likely to be completed in six months.
The National Stock Exchange (NSE) Nifty Next 50 Index could undergo large-scale changes if the proposed tweaks to its computation methodology get implemented. In a discussion paper floated recently, NSE Indices, which owns and manages a portfolio of over 350 indices under the Nifty brand, proposed that only stocks that are traded in the futures and options (F&O) segment can be part of the index. Currently, as many as 11 non-F&O stocks are part of the Nifty Next 50 Index, which, as the name suggests, represents the next rung of large and liquid securities after the Nifty50.
Young MPs show interest in joining Territorial Army
